One woman & one boy.
Anyone buying in Perth ??
- Thread starter mjinwa
- Start date
One woman & one boy.
it's a mixture of the people in the area[obviously done by computer] from passport photos etc.
looking at success as well... although, anyone able to negotiate some good deals on the land component in that area. Would 'prefer' to be paying 20-25k less.
What price would that be and for what size?
I've seen some cottage size house and land packages - 3 x 2's with double garages from $350k to $400k over the quieter side of Success away from the rail & power lines. 2mins to Gateway Shopping Centre & Cockburn Central station.
I'm pretty new to this and still have a lot to get me head around and learn so if i'm totally off track please let me know. Given i live in Perth and plan to keep my IP's here i thought i'd throw in my 2c...
I moved here from Melb > 7 yrs ago and have witnessed a huge number of ppl make the move from the eastern states to this beautiful city. Many say it's due to the mining boom and once that's gone it will finish but i don't agree with that. Perth has a lot of potential to expand especially areas like Mandurah which i believe may eventually become like the new Gold Coast. Many ppl are starting to catch on that WA can provide a very different lifestyle and given that we are slightly behind the eastern states can make it more attractive to those with / building families.
If anyone saw TT (or was it ACA) last night, housing affordability is almost in line with renting yet so many will continue to rent. Personally i'm looking forward to the FHOG finishing and some of the above stated by qvo178 as this means less ppl buying and more ppl renting my property. And if prices fall it will eventually even itself out in the long term right? and what goes down will eventually go up?
I would buy within close range to the CBD or Mandurah and would probably stay away from Rockingham and the surrounding suburbs (in my opinion only).
I moved here from Melb > 7 yrs ago and have witnessed a huge number of ppl make the move from the eastern states to this beautiful city. Many say it's due to the mining boom and once that's gone it will finish but i don't agree with that. Perth has a lot of potential to expand especially areas like Mandurah which i believe may eventually become like the new Gold Coast. Many ppl are starting to catch on that WA can provide a very different lifestyle and given that we are slightly behind the eastern states can make it more attractive to those with / building families.
If anyone saw TT (or was it ACA) last night, housing affordability is almost in line with renting yet so many will continue to rent. Personally i'm looking forward to the FHOG finishing and some of the above stated by qvo178 as this means less ppl buying and more ppl renting my property. And if prices fall it will eventually even itself out in the long term right? and what goes down will eventually go up?
I would buy within close range to the CBD or Mandurah and would probably stay away from Rockingham and the surrounding suburbs (in my opinion only).
Its fair to have an opinion but its faily useless unless you explain your reasoning behind it.
I will post a few reasons why I disagree with this statement:
1) Houses are CHEAP
2) Rental vacancy is 0%
3) Beach side of Rockingham (Shoalwater/Safety Bay) will always feel the effects of any upturn very quickly.
I myself have a house I bought 85% of the way through the boom. I bought it for $280k. Did 15k reno (paving, car roller door and landscaping DIY) - just had it valued AFTER the flop at $325-330k.
I put it on the market for $280/week. I had 26 applications the first day it came out in the local paper and a tennant in it 2 days later who paid the first 3 months rent in cash + 4wk bond. I had people trying to bribe me on the spot to let them rent my house!! Out of the 26 applicants I had 6 very good choices.
Was it flash or underpriced? Nope. A 3x1 in woodbridge (cooloongup) near the hospital and train station - nothing special.
Tennant has said she is ok with a next year increase to $300/week as she knows it hard to get a house now......
====================
Also in regards to buying in Perth - yes I believe if you limit your exposure its a great time to buy.
I myself have decided to go for cash flow over any gamble on CG.
I am looking at spending 300-450k on an inner city Perth appartment. I have already found over a dozen deals that are CF+ve - and thats me calculating on a IR of 5.5%
I've just bought an apartment in East Perth (the good part, i.e. not hay st or adelaide terrace)
It cost 440 and will rent out for 550, deals like these are rare but they're out there. I had a little insider information because I was actually renting the place when it came up for sale, so I knew the apartment, the complex and the area very well.
I'm confident that if you buy unique properties in good locations, you won't go wrong in any stage of the market. These types of properties aren't immune from downturns of course but they are more resilient.
It cost 440 and will rent out for 550, deals like these are rare but they're out there. I had a little insider information because I was actually renting the place when it came up for sale, so I knew the apartment, the complex and the area very well.
I'm confident that if you buy unique properties in good locations, you won't go wrong in any stage of the market. These types of properties aren't immune from downturns of course but they are more resilient.
Hi KS
Like i said, new and nieve to this so you probably have a better insight however, i still personally would hesitate going out that way.
I used to commute to Rockingham and some of the areas are pretty rough so i'd bare this in mind in terms of the types of tenants this might attract however, it sounds like you've done well
And although it's true that beachside is in demand, i dont think the beaches in that area are too crash hot which is why i'd go Mandurah if i was looking beachside lifestyle. But most importantly Rockingham is still rather isolated from the CBD and the more Perth expands, the more demand there'll be for CBD locations. Fremantle and surrounds would also be a safer bet.
Again, this is me talking as a Perthian rather than an investor and what i personally would look for if i wanted to live / rent. Maybe if i had a number of IP's i'd start spreading out more - who knows?
P.S i think $280 is low - you could probably get more I know that in Port Kennedy they're going for $300 >
Like i said, new and nieve to this so you probably have a better insight however, i still personally would hesitate going out that way.
I used to commute to Rockingham and some of the areas are pretty rough so i'd bare this in mind in terms of the types of tenants this might attract however, it sounds like you've done well
And although it's true that beachside is in demand, i dont think the beaches in that area are too crash hot which is why i'd go Mandurah if i was looking beachside lifestyle. But most importantly Rockingham is still rather isolated from the CBD and the more Perth expands, the more demand there'll be for CBD locations. Fremantle and surrounds would also be a safer bet. Again, this is me talking as a Perthian rather than an investor and what i personally would look for if i wanted to live / rent. Maybe if i had a number of IP's i'd start spreading out more - who knows?
P.S i think $280 is low - you could probably get more
I know that in Port Kennedy they're going for $300 >
Last edited:
i have no affinity with any of this but have to question if you have seen the beaches? They are beautiful. And how many places in WA do you have the choice of a north, west and south facing beach? Mandurah is all west facing = blown out by 11am on a good day, like most of this god foresaken coast.
Well, if you don't like it...
This coast has a unique character and what you describe is just one of the reasons we love it! If you want a beach with serenity, then you just have to get up early!
Anyway I like Rockingham as an investment location as the yields are pretty attractive right now, although the attachment gives me some doubts - the whole place is only just above sea level ATM!
Attachments
Most beaches in WA are very beautiful but i just compare them to the ones further up the coast - Cottosloe, Scarborough, Hillaries etc. and then Mandurah (or more the developments around Mandurah that make it more attractive). But i guess it has be affordable as well as attractive and the ones i mentioned are not within everyone's scope...
I have almost 600k to spend on two properties in Perth over the coming couple of months. Im mainly looking in student areas such as Glendalough and perhaps Bentley, as Im mainly after cash flow rather than capital gains. Plan is to buy and hold for a least 5 years. 100% equity in my current place will be helping out with the purchase and repayments after I move out at the end of April.
All this talk of Rockingham (and specifically the Woodbridge / Cooloongup area) is making me a bit ill. I sold a house there in '03 for $140K.
4 X 2.
Very sad...
4 X 2.
Very sad...
Yeah well we all have to be young and stupid sometime don't we.
Of course at the time I needed what little money I got out of it to buy a house in my new home town. And thanks to the mining boom that didn't do too badly anjyway...
But I always look back with regret at the ones that got away (i.e the ones I sold...)
Of course at the time I needed what little money I got out of it to buy a house in my new home town. And thanks to the mining boom that didn't do too badly anjyway...
But I always look back with regret at the ones that got away (i.e the ones I sold...)
yeah I dont bother with Perth beaches... not a morning person. I just go to Dunsborough, east facing, calm, fantastic
How did it come to this?
Mandurah is isolate but if i was to venture out that way I (me) would prefer to be in Mandurah. Same diff really, they're close enough... I know some ppl that are in Port Kennedy, Rockingham & Bertram and have this discussion w/ them all the time... i never win! they must put drugs in the water to make it all look prettier out there :O but more likely it's the affordability.
Each to their own...
Mandurah is isolate but if i was to venture out that way I (me) would prefer to be in Mandurah. Same diff really, they're close enough... I know some ppl that are in Port Kennedy, Rockingham & Bertram and have this discussion w/ them all the time... i never win! they must put drugs in the water to make it all look prettier out there :O but more likely it's the affordability.
Each to their own...
Mandurah - good living, ??? investing
Living & owning 2 properties in Mandurah, I can attest to the good living here and beautiful beaches, agree about the wind though. I drive to Perth each day for work as the family won't budge due to the lifestyle, schools etc.
That said, I am finding difficult to make / find good opportunities for investment in Mandurah at present, and I am currently looking here and elsewhere.
Mandurah has always had low rents in comparison to other comparable areas and this continues to be so. This makes it hard to find properties that will be not too negative cash flow even with a number of near new properties currently at or below replacement cost. Further, with 15% of the current stock on the market in the Dawesville area, capital gains are not likely to be significant in the next few years.
I believe in the long term prospects for Mandurah so am looking at alternative strategies such as buy & reno to get back into the home market. In the mean time have just signed a contract for a property in Adelaide and will continue to investigate options in Perth & Melbourne.
regards
Mike
Living & owning 2 properties in Mandurah, I can attest to the good living here and beautiful beaches, agree about the wind though. I drive to Perth each day for work as the family won't budge due to the lifestyle, schools etc.
That said, I am finding difficult to make / find good opportunities for investment in Mandurah at present, and I am currently looking here and elsewhere.
Mandurah has always had low rents in comparison to other comparable areas and this continues to be so. This makes it hard to find properties that will be not too negative cash flow even with a number of near new properties currently at or below replacement cost. Further, with 15% of the current stock on the market in the Dawesville area, capital gains are not likely to be significant in the next few years.
I believe in the long term prospects for Mandurah so am looking at alternative strategies such as buy & reno to get back into the home market. In the mean time have just signed a contract for a property in Adelaide and will continue to investigate options in Perth & Melbourne.
regards
Mike
Mike have you considered adding some commercial to your portfolio?
